Telecom Italia buys 0.5% of TIM ordinary shares after exercising put options

02/11/2005 - 08:00 PM

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December 21, 2004 put and call option contracts announced to the market now fully exercised  

 

Telecom Italia announces that today it acquired 42 million TIM ordinary shares (equal to 0.5%)  after exercising the put options stipulated in the contract agreed on December 21 2004, and announced to the market at that time. The transaction price was equal to €5.5562 per share.

All contract options have now been exercised, including the call options on TIM savings shares exercised by Telecom Italia as disclosed in the press release issued on February 3, 2005

As a result of the exercise of these put options, Telecom Italia owns a total of  7,232,583,124 TIM ordinary shares  (including the shares acquired through the voluntary partial cash tender offer for TIM ordinary shares which closed on January 21), corresponding to approximately 85.5% of this class of share.

 

Milan, February 11, 2005